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New Car in Copetown Ontario: How to Find a Great Deal

New Car in Copetown Ontario: How to Find a Great Deal

Car buyers throughout Copetown looking for a great deal have to roll up their sleeves. There are some amazing car deals, but the car market has changed dramatically since the last time you purchased a new car in Copetown Ontario.

 

How the car market has changed in Copetown

 

Prior to the pandemic (remember those good old days), there was an ample supply of both new and used cars to choose from; we were spoiled for choice.

 

Things changed, though, since Covid-19 became a household term that we would all like to forget.

 

  • Developing countries around the world are buying up our used cars and having them shipped abroad. These developing nations cannot afford to pay for a brand-new car but are able to pay a premium for used vehicles. This has caused used car prices to track at all-time historical highs. This is great news if you have a car to trade in; you can get top-dollar for it.
  • Carmakers are being forced to shift their manufacturing to all-electric vehicles (EV) from conventional gas-powered cars. This transition takes time, and while the asking price for EVs is high and the availability of charging stations is a major pain point for most drivers, all-electric vehicles will become the norm in the next 10-20 years. If your budget does not allow for the purchase of an EV, then you should go with a hybrid to save on rising gas prices.
  • Interest rates on car loans are rising at a rapid pace. Throughout the pandemic and even now, the Government of Canada has been running massive budget deficits; all of this money printing has led to runaway inflation. To slow inflation, the Bank of Canada is jacking up its prime interest rate; this makes all types of credit more expensive, including car loans. These interest rates are going to be happening in quick succession for the foreseeable future, so you must be ready to move fast.

 

All-New Ford F-150 Lightning Charging at Home

 

Now that you know how the car market in Ontario has changed, it is time to shift gears and look at what you can do to increase the odds of you getting the best possible deal.

 

Having good credit helps

 

When was the last time you checked your credit score?

 

Check out Credit Karma; it will give you access to your credit score. To get the best car loans, you need a credit score over 680; regardless of what your credit score is, you should move forward and begin looking at your car loan options.

 

Credit Karma credit report

 

The interest rates are going to keep rising, so you should try to lock in savings while you have the time.

 

How to find the best car loans in Copetown

 

This is one of the best-kept secrets; if you want to get a great car loan, then you should head over to your local car dealership.

 

These dealerships can negotiate the most aggressive financing terms; even borrowers with bad credit can get their car loan approved.

 

Car Nation Direct Online Buying Center

 

In addition, the dealership has vehicles available in their inventory that you can take for a test drive; the test drive is how you can determine which car is the best one for you.

 

We’d love to help you find a new car in Copetown Ontario. Simply fill in the form below and we’ll get back to you ASAP or see our selection of used cars at our Burlington dealership. 

 

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    Categories: Auto Loan

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